Canadian home sales slump to six-year low in February: CREA

FILE PHOTO: A real estate for sale sign is pictured in front of a home in Vancouver, British Columbia, Canada, September 22, 2016. REUTERS/Ben Nelms/File Photo

TORONTO (Reuters) - Canadian homes sales tumbled 9.1 percent in February from the previous month to hit their lowest level since November 2012, the Canadian Real Estate Association said on Friday.

The February decline was the biggest since tighter mortgage rules came into effect in January last year, the industry group said. Actual sales, not seasonally adjusted, were down 4.4 percent from a year earlier, while the group’s Home Price Index dipped 0.1 percent year-over-year.